Premium Beauty and Personal Care in Singapore

PROSPECTS

Outlook is bright for premium beauty as a status symbol

As of 2018, beauty-orientated categories such as moisturisers and treatments, facial make-up, lip products, liquid/cream/gel/bar cleansers and face masks play a more significant role in premium segment sales than in the mass segment. Consumers’ perception of them as vanity products and tendency to buy them as a small luxury contribute to the sales growth of such products.

New premium beauty and personal care products see a shift away from collective brand value towards efficacy and individuality

Results from the 2019 Euromonitor International Lifestyle Survey show that Singaporeans are no longer loyal to brand name. A significant percentage of Singaporeans do not necessarily prefer branded goods over non-branded alternatives, and the percentage is the highest among all Asian countries surveyed.

COMPETITIVE LANDSCAPE

L’Oréal and Estée Lauder remain at the top with extensive brand portfolios

In 2018, L’Oréal Groupe and Estée Lauder Cos Inc continued to lead premium beauty and personal care sales. Both companies have garnered a strong presence in premium beauty segments such as colour cosmetics, skin care and sun care, with extensive ranges of established brands including Lancôme, Kiehl’s, Yves Saint Laurent, Shu Uemura, Biotherm, La Roche-Posay, Urban Decay, Estée Lauder, Mac, Bobbi Brown and Clinique.

Premium brands invest in experiential retail marketing

Premium brands lead the reinvention of shopping by investing in experiential marketing. The in-store aesthetic is a common form, as exemplified by premium Japanese skin care brand, Decorte, which has opened a boutique in the Orchard shopping district.

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